As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Thursday, November 21, 2024. The Philadelphia Fed Manufacturing Index, Initial Jobless Claims, and Existing Home Sales are among the key reports set to be released, offering insights into manufacturing activity, labor market conditions, and housing sector performance.
Major Economic Events to Watch:
• 8:30 AM ET - Philadelphia Fed Manufacturing Index: Expected at 6.3, previous 10.3. Measures business conditions in the Philadelphia area.
• 8:30 AM ET - Initial Jobless Claims: Forecast at 220K, previous 217K. Indicates the number of new unemployment insurance claims.
• 10:00 AM ET - Existing Home Sales: Anticipated at 3.94M, previous 3.84M. Measures the change in the number of existing homes sold.
Other Important Economic Events to Watch:
• 8:30 AM ET - Philly Fed Employment: Previous -2.2. Employment component of the Philadelphia Fed index.
• 8:30 AM ET - Continuing Jobless Claims: Previous 1,873K. Measures ongoing unemployment insurance claims.
• 10:00 AM ET - Existing Home Sales (MoM): Previous -1.0%. Month-over-month change in existing home sales.
• 12:25 PM ET - Fed Goolsbee Speaks: Federal Reserve official's speech may offer insights into monetary policy.
• 1:00 PM ET - 10-Year TIPS Auction: Previous yield 1.592%. Treasury Inflation-Protected Securities auction results.
• 4:30 PM ET - Fed's Balance Sheet: Previous $6,967B. Weekly update on Federal Reserve's assets and liabilities.
• 4:30 PM ET - Reserve balances with Federal Reserve Banks: Previous $3.192T. Amount held by depository institutions.
• 4:40 PM ET - Fed Vice Chair for Supervision Barr Speaks: Another opportunity for market insights from Fed leadership.
Other Economic Events to Watch:
• 8:30 AM ET - Philly Fed Business Conditions: Previous 36.7. Broader business outlook from the Philadelphia survey.
• 8:30 AM ET - Philly Fed Prices Paid: Previous 29.70. Indicates inflationary pressures in manufacturing.
• 8:30 AM ET - Philly Fed New Orders: Previous 14.2. Measures new orders received by manufacturers.
• 8:30 AM ET - Philly Fed Capex Index: Previous 23.50. Indicates capital expenditure plans.
• 8:30 AM ET - Jobless Claims 4-Week Avg.: Previous 221.00K. Smoothed measure of jobless claims trends.
• 10:00 AM ET - US Leading Index: Forecast -0.3%, previous -0.5%. Composite of economic indicators.
• 10:30 AM ET - Natural Gas Storage: Previous 42B. Weekly change in natural gas inventories.
• 11:00 AM ET - KC Fed Composite Index: Previous -4. Measures manufacturing activity in the Kansas City region.
• 11:00 AM ET - KC Fed Manufacturing Index: Previous 0. Specific manufacturing component of the KC Fed survey.
• 11:30 AM ET - 4-Week Bill Auction: Previous yield 4.510%. Short-term Treasury bill auction results.
• 11:30 AM ET - 8-Week Bill Auction: Previous yield 4.460%. Another short-term Treasury bill auction.
For further information and the latest updates, please refer to our Economic Calendar, here.
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